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Personally I prefer the Banksy lies than the corporate lies of advertising.

Both might lie but it depends on which lie you like to believe as to which form of advertising you find better.

Deeply ironic considering Banksy has made millions plastering his products all over public spaces without any permission from anybody.

Unlike billboards, a lot of people enjoy Banksy's "products", and consider them art. Also, they are much smaller and less obnoxious, not placed over a highway or on top of a large building.

A lot of people like billboards too. That’s why Times Square is one of the busiest tourist destinations in the world.

None of that has any relation to the irony of Banksy’s quote though.

Uh... he has permission.

What is the banksy lie?

Banksy doesn't really exist and all his paintings are actually an elaborate marketing campaign we don't understand yet.

Do you know who Banksy is (representing)? That's the lie.